- Minting of Original Artists NFTs from Corite is still up and running.
- Corite is a music platform that allows users to back their favorite artists and earn as their songs become a hit.
- The proceeds from the NFTs will be distributed from the artists and their backers.
Corite, a crowdfunding and fan interaction platform, announced in a tweet that its platform’s NFT minting is up and running. Stated that the first batch of 1,000 NFTs have been sold out and the sale will end in eight days.
Corite is a digital platform built on BNB Chain that allows artists to acquire funding and marketing assistance from fans.
Artists can set up fan campaigns and estimate how much a song is worth. Fan campaigns allow users to get a revenue from a song generated by their favorite artists. The share that users will gain is based on how much a backer has invested during one year.
One of the most popular fan campaign was with Alan Walker, an artist that has more than 10 billion views on his YouTube channel. The campaign for Walker’s new song “Unity” has already reached its fundraising goal of $25,000 in less than a week.
In a tweet, Corite announced the release of Original Artists NFTs in celebration of being officially a Web3 project.
The NFTs are from 100 independent artists that made successful fan campaigns on Corite. In addition, fans will also get a chance to secure CO tokens ahead of the launch.
There are 1,000 Original Artists NFTs limit in a day and the minting will stop after 10 days upon launch. The NFTs will contain a 30 seconds snippet from a song used in a fan campaign already released worldwide.
Each Original Artists NFT costs $5 (0.017 BNB) plus gas fee. The proceeds will be distributed to the artists and their backers.
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